Anterix (NASDAQ:ATEX) Trading 7.5% Higher

Anterix Inc (NASDAQ:ATEX)’s share price traded up 7.5% on Wednesday . The company traded as high as $40.81 and last traded at $40.52, 193,879 shares changed hands during mid-day trading. The stock had previously closed at $37.68.

Several equities research analysts recently issued reports on ATEX shares. Evercore ISI started coverage on Anterix in a report on Friday, August 9th. They issued an “outperform” rating and a $61.00 price objective on the stock. B. Riley set a $59.00 price objective on Anterix and gave the stock a “buy” rating in a research note on Friday, August 16th. Craig Hallum increased their target price on Anterix from $62.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 24th. Zacks Investment Research upgraded Anterix from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Friday, May 31st. Finally, BidaskClub raised Anterix from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 24th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Anterix currently has a consensus rating of “Buy” and a consensus target price of $64.00.

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The company has a market cap of $565.70 million, a price-to-earnings ratio of -14.07 and a beta of 0.23. The firm’s 50 day simple moving average is $42.00 and its 200-day simple moving average is $42.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.51 and a current ratio of 8.51.

Anterix (NASDAQ:ATEX) last issued its earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.03. The business had revenue of $0.45 million during the quarter, compared to analysts’ expectations of $0.79 million. Anterix had a negative net margin of 769.30% and a negative return on equity of 19.16%. As a group, sell-side analysts expect that Anterix Inc will post -2.59 EPS for the current fiscal year.

In other Anterix news, major shareholder Owl Creek Asset Management, L. acquired 401,830 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was bought at an average price of $44.99 per share, for a total transaction of $18,078,331.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Stephen Feinberg sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $43.50, for a total transaction of $43,500,000.00. The disclosure for this sale can be found here. Insiders have purchased 1,145,329 shares of company stock worth $51,224,815 over the last 90 days. 6.74% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Anterix by 72.3% during the 4th quarter. Bank of America Corp DE now owns 7,209 shares of the company’s stock worth $269,000 after acquiring an additional 3,025 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Anterix by 426.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,980 shares of the company’s stock worth $70,000 after purchasing an additional 1,604 shares in the last quarter. Atika Capital Management LLC purchased a new stake in shares of Anterix in the first quarter worth $1,336,000. Marshall Wace LLP bought a new stake in shares of Anterix during the 1st quarter valued at $428,000. Finally, Nordea Investment Management AB bought a new stake in shares of Anterix during the 1st quarter valued at $120,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

Anterix Inc operates as a wireless communications company. The company focuses on enabling private broadband connectivity for critical infrastructure and enterprise businesses. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Hawaii, Alaska, and Puerto Rico.